My claim is that luxury goods are gradually becoming a noisier signal of one's position in society. This isn't to say that they don't still confer status — they clearly do. People still buy material items to signal their status. But because they've become a noisier signal over time, people are starting to signal their status with their beliefs and... See more

According to Frank, the desire for many to indulge in luxury “possessions” is motivated less by the gratification they may bring than by what others are buying or want to buy. We try to achieve happiness by improving our relative social status. For example, if your neighbor didn’t buy his new Mercedes Benz, you wouldn’t probably feel the need for... See more

It’s revealing to think of mimetic desire along a continuum. Certain people and organizational cultures are more prone to mimesis than others. And one thing is clear, on a societal level: any society in which people are no longer struggling with scarcity but coping with abundance will undergo an explosion of mimetic desire. In this universe of... See more